Santa Fe Signs Gold Mine Pact

March 29, 1985

A unit of Santa Fe Southern Pacific Corp. signed two contracts with Stan West Mining Corp. of Phoenix for the production of gold in northern Arizona. Santa Fe entered a joint operating agreement that is expected to result in the production of about 40,000 ounces of gold annually. Santa Fe Mining Inc. will complete development of the McCabe Mine near Prescott, Ariz., in return for a 50 percent interest in the property. The companies also agreed to fund development of additional mines, with SFM holding a 60 percent interest and Stan West a 40 percent interest.